09.09.202406:59 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/JPY Main Currency Pairs, Monday September 09, 2024.

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On the 4-hour chart, the main currency pair USD/JPY appears to be in a weakening condition, which can be seen from the appearance of Bearish continuation patterns such as Rising Wedge and others and is below both EMAs of its price movement, but currently there is a deviation between the price movement of USD/JPY and the Stochastic Oscillator indicator so that in the near future USD/JPY has the potential to be corrected to strengthen, but as long as the strengthening correction does not break above the 148.20 level, then USD/JPY actually still has the potential to continue its weakening back to the 141.77 level and if this level is successfully broken, USD/JPY will continue its weakening back to the 138.22 level as its main target and if the momentum and volatility support it, 134.78 will be the next target it will try to reach.

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